THE SABE NEWSLETTER
THE SOCIETY FOR THE ADVANCEMENT OF BEHAVIORAL ECONOMICS
Statement of Purpose
SABE is an association of scholars who are committed to rigorous economic analysis and are interested in learning how other disciplines – for example, psychology, sociology, anthropology, history, political science, and biology further our understanding of economic behavior. An important function of SABE is to serve as a forum for research which may not find either comprehension or acceptance in conventional economics societies. SABE also aims at facilitating communication between economists and scholars trained in related disciplines. Website: www.sabeonline.org A new SABE website is nearly finished that will better facilitate the growth of SABE.
Vol. 17, No. 1 Spring 2010 Editor: Simon James University of Exeter Business School Streatham Court, Exeter, EX4 4PU, United Kingdom Contributions for the next issue are very welcome – email: [email protected]
Newsletter Contents
Message from the SABE President 2 Conferences this Summer 3 Want to Organize a Future SABE Conference? 3 SABE Conference in San Diego 2010 3 SABE/IAREP Conference in Cologne 2010 4 SABE Session at the January 2011 ASSA Meetings in Denver 5 SABE Poster Session at the ASSA meetings in Denver 5 SABE at the Eastern Economic Association Conference, February 2010 6 SABE Country Representatives 8 New Masters Degree in Economics and Psychology in Paris 10 Charlotte Phelps’ New Research Project 11 Microeconomics: A Journey Through Life’s Decisions 11 by John Cullis and Philip Jones The Journal of Socio-Economics 11 SABE Officers and Board 12 Preliminary Program for the SABE San Diego Conference 2010 13
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Message from the SABE President My two year term as president of SABE will come to an end this July, at which time Louis Levy Garboua will become president. It has been my pleasure and honor to serve as SABE President these past two years. I want to thank Catherine Eckel and Jean Robert Tyran who organized good ASSA sessions for SABE the past two years. I want to thank Sonja Novkovic for organizing a great SABE IAREP conference in Halifax last summer, Shoshana Grossbard and Roger Frantz for organizing the SABE San Diego Conference for this summer, and Detlef Fetchenhauer and Julia Pradel for organizing SABE IAREP Cologne Conference this summer. I want to thank Gary Lynne, Bijou Yang Lester, and Simon James for their steady work as SABE secretary, SABE treasurer, and SABE Newsletter editor. I want to thank John Smith who has agreed to organize the SABE poster sessions at the ASSA meetings. I want to thank the SABE board members for much good input and work. Ofer Azar especially deserves credit for fostering a tighter and more productive relationship between SABE and IAREP, which will help boost SABE membership, increase SABE’s reach, and improve the SABE IAREP joint conferences. I want to thank Morris Altman and John Tomer, whose steady work on SABE’s behalf for so many years has kept the ship headed in the right direction, even as many like me rock the boat. I want to thank all those SABE members who have agreed to be Country Representatives or Regional Representatives within the U.S., for I believe this can make a positive difference over time. I want to thank the many talented SABE scholars, whose conference presentations and plenary talks have motivated so many of us to pursue research projects that stretch economics and advance social science. I apologize if I have forgotten anyone, for that is likely. I look forward to watching SABE grow, prosper, and make facilitate scholarly progress in behavioural economics. Sincerely, Mark Pingle SABE President University of Nevada, Reno, USA 2
Conferences this Summer
This summer, SABE will be sponsoring two conferences. SABE San Diego 2010 will occur August 2 5 at San Diego State University in San Diego, California, USA. The Cologne 2010 IAREP / SABE / ICABEEP Conference will occur September 5 8 at the University of Cologne in Cologne, Germany. The preparations for each conference are progressing well. Shoshana Grossbard and Roger Frantz are organizing the San Diego Conference for SABE, while Detlef Fetchenhauer and Julia Pradel are organizing the Cologne Conference for SABE and IAREP (International Association for Research in Economic Psychology). The Cologne Conference is the first joint SABE IAREP conference organized under the new ICABEEP ( International Confederation for the Advancement of Behavioral Economics and Economic Psychology) umbrella organization. Please give these conference organizers your thanks when you interact with them. Want to Organize a Future SABE Conference? In the summer of 2011, probably September, under the ICABEEP umbrella organization, SABE will join IAREP in sponsoring a conference in Exeter, England. However, it is time to start thinking about 2012 and 2013. SABE would like to have a conference in North America in 2012. In 2013, SABE will likely again sponsor a joint conference with IAREP, and any good international location will be considered. If you desire to organize either of these future conferences, please contact SABE President Mark Pingle at [email protected] SABE Conference in San Diego 2010
SABE 2010 San Diego will be held August 2 5, 2010 at San Diego State University, San Diego, CA and the preliminary program is given at the end of the Newsletter. For further information, see the conference website at http://sabe2010.org/ or contact the conference organizers Roger Frantz ( [email protected] or 619 594 3718) or Shoshana Grossbard ( [email protected] ).
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SABE/IAREP/ICABEEP Conference in Cologne 2010
University of Cologne, Germany, September 5 th -8th , 2010 - Latest News The preparations of the organizing committee for the 2010 conference are in full swing. The Cologne group is making plans to organize an outstanding intellectual and social exchange for all conference participants. Here is the latest news. Call for Papers completed
The organizing committee has received a promising number of significant and innovative contributions. Now the reviewing process has started. At the beginning of June, the organizing committee is going to inform authors whether their submission has been accepted. To ensure that the abstract of an accepted paper appears online as well as in the printed version of the conference proceedings, authors should register for conference participation within the early registration phase ending on June 30 th .
Students can submit their papers until May 31st, 2010 at the latest Good news for students who want to participate in the " Elsevier/IAREP/SABE Best Student Paper Competition": the deadline for the submission of full working papers has been prolonged. Students who have already submitted a contribution within the official Call for Papers can hand in their full working papers belonging to this submission until May, 31 st . The winner of the Best Student Paper Competition 2010 receives a year's subscription to the Journal of Economic Psychology and the Journal of Socio Economics as well as 1,000 €.
Accommodation should be arranged early As soon as participants have registered, they should also arrange their accommodation: at the same time as the IAREP/SABE/ICABEEP 2010 Conference takes place, there will be two international trade fairs in Cologne. Therefore, hotels and other accommodation facilities will be in high demand.
The organizing committee has reserved a couple of rooms at special prices at the conference site, the Maternushaus. Participants can book these rooms via the Maternushaus referring to the fact that they are participants of the IAREP/SABE/ICABEEP 2010 Conference. For those who would like to make economies, some rooms have been pre booked at the cheaper Youth Hostel in Cologne Deutz. The allocation of these Youth Hostel rooms is managed by the organizing committee itself. For more information concerning booking procedures and other organisational details, please visit the conference website under http://www.iarep sabe.uni koeln.de . Other events nearby for people fond of science and traveling Participants of the Cologne Conference should consider coming to Central Europe one week earlier to visit the 9 th Tiber Symposium on Psychology and Economics in Tilburg, Netherlands as well. Tilburg is 4
less than 200 kilometres away from Cologne and the combination of both conferences would give collegues from abroad the chance to combine science with a trip through Europe. The Tiber Symposium takes place at Tilbury University on 27 th of August 2010. You will find more information on the Tiber website: http://www.tilburguniversity.nl/tiber/conferences/
If you have further questions on the IAREP/SABE/ICABEEP Conference in Cologne, feel free to contact the organizing committee: Detlef Fetchenhauer (detlef.fetchenhauer@uni koeln.de) and Julia Pradel ( julia.pradel@uni koeln.de ).
SABE Session at the January 2011 ASSA Meetings in Denver
Gary Charness, of the University of California Santa Barbara, has agreed to organize the SABE session at the January 2011 ASSA Meetings in Denver. Gary is a seasoned experimentalist who, in the process of exploring a wide variety of behavioural issues using experimental tools, has developed a large number of contacts in the community of good scholars doing behavioural and experimental economics. If you are attending the ASSA Meetings in Denver, do look for the SABE session that Gary organizes and he has an exciting tentative session planned. Hope you plan to attend. Session Title: Self control, Self confidence, and Self deception Session Chair: Gary Charness 1) Aldo Rustichini, presenting "Self confidence, Social Signaling, and Bayesian Updating" (with Gary Charness and Jeroen van de Ven) Discussant: Uri Gneezy 2) Gary Charness, presenting "Field and Online Experiments on Procrastination and Willpower" (with Nicholas Burger and John Lynham) Discussant: Zack Grossman 3) Ulrike Malmendier, presenting "Managerial Beliefs and Corporate Financial Policies" (with Geoff Tate and John Yan) Discussant: Stefano dellaVigna 4) Dan Houser, presenting "Temptation and Commitment in the Laboratory" (with Daniel Schunk, Joachim Winter, and Erte Xiao) Discussant: Stephan Meier
SABE Poster Session at the ASSA meetings in Denver SABE is hosting a poster session at the ASSA meetings in Denver. If you wish to contribute, send an abstract of not more than 500 words to [email protected] by August 1, 2010.
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SABE at the Eastern Economic Association 36 th Annual Conference February 26-28, 2010 Loews Philadelphia, Philadelphia
SABE Sessions at EEA2010:
SABE Session I: Organizer/Chair: Bijou Yang Lester, Drexel University Theme: ‘Income Streams and Time Requirements, Sun Cost and Commitment, Risk and Impulsivity, and Jump Bidding in Takeover Auctions’ 1. ‘Income Streams and Time Requirements: Preferences over Sequences of Job Attributes’ John Smith, Rutgers University, [email protected] 2. ‘A Temporal Analysis of Sunk Cost and Equivocality on Escalation of Commitment: Too Invested or Too Confused to Quit?’ Bess J. Puvathingal, Temple University, [email protected] Donald A. Hantula, Temple University, [email protected] 3. ‘Consumer Choices of Women in Residential Drug Treatment: An Analysis of Risk and Impulsivity’ MaryLouise E. Kerwin, Rowan University, [email protected] Maren D. Woodside, Temple University, [email protected] Donald A. Hantula, Temple University, [email protected] 4. ‘Jump Bidding in Takeover Auctions: an Experimental Study’ Yuri Khoroshilov, University of Ottawa, [email protected] Discussants: Yuri Khoroshilov, University of Ottawa Donald A. Hantula, Temple University Bess J. Puvathingal, Temple University John Smith, Rutgers University SABE Session II: Organizer/Chair: Bijou Yang Lester, Drexel University Theme: ‘On Industrial Organization: Patent Litigation Insurance, Bank Deposit Market, and a la carte regulation’ 1. ‘Patent Litigation Insurance in the Presence of Asymmetric Information’ Anne Duchene, Drexel University , [email protected] 2. 'Entry and Social Inefficiencies in the Bank Deposit Market’ Mian Dai, Drexel University, [email protected] Yuan Yuan , Drexel University, [email protected] 6
3. ‘Bundling, a la Carte Pricing and Vertical Bargaining in a Two Sided Model: A Numerical Approach’ Minghua Chen, Drexel University, [email protected] Konstantinos Serfes, Drexel University, [email protected] Discussants: Mian Dai, Drexel University Minghua Chen, Drexel University Anne Duchene, Drexel University SABE Session III*: Organizer: Yoto Yotov and Bijou Yang Lester, Drexel University Chair: Tatiana Mihailovschi-Muntean, Trent University Theme: ‘On Macroeconomics: Remittances and Government Spending, Switching Costs for Borrowers, and the Diffusion of Technology, Education and Income Inequality’ 1. ‘Remittances and Government Spending: Consumption and Investment Goods or Employee Compensation?’ Tatiana Mihailovschi Muntean, Trent University , [email protected] 2. ‘Switching Costs for Bank Dependent Borrowers: Do They Matter for the Bank Lending Channel of Monetary Policy?’ Maria Pia Olivero, Drexel University, [email protected] Yuan Yuan, Drexel University, [email protected] 3. ‘The Diffusion of Technology, Education and Income Inequality: Evidence from Developed and Developing Countries’ Joshua D. Hall, Drexel University, [email protected] Discussants: Joshua D. Hall, Drexel University Tatiana Mihailovschi Muntean, Trent University Yuan Yuan, Drexel University * SABE Session III was canceled because the Chair of the session, a presenter herself, was snowed out due to the cancellation of her flight, another withdrew his presentation.
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SABE Country Representatives
Some progress has been made at developing a network of SABE Country Representatives, who promote behavioral economics in their country, or region of their country, and who promote SABE and its conferences. Through the work of Ofer Azar and others who have organized the ICABEEP umbrella for SABE and IAREP, money is now available for summer schools around the world. The first summer schools under this new program will be offered in England and Russia this year. (See this newsletter for information on the summer school in Russia.) If you have interest in becoming a SABE Country Rep for your country, or for a region of your country, contact SABE President Mark Pingle at [email protected] . The current SABE Country Representatives are: Australia: Gigi (Jennifer) Foster; University of South Austrailia Brazil: Flavia Possas and Bruno Vio Canada: Sonja Novkovic; Saint Mary's University China: David Ong; Peking University HSBC School of Business; University Town China: Shirley Wang; School of Economics ; Renmin University of China ; Beijing Germany: Christian Cordes; Max Plank Institute Israel: Ofer Azar; Ben Gurion University of the Negev Italy: Francesco Scacciati; Univerisita di Torino Poland : Ewa Gucwa Lesney; University of Warsaw Russia: Alexis Belianen; Higher School of Economics Taiwan: Shu Heng Chen Uruguay: Hugh Schwartz US (Western Region) Homa Zarghamee; Santa Clara University US ( Eastern Region) Bijou Yang Lester; Drexel University US ( Southern Region) Shabnam Mousavi; Georgia State University US ( AAEA IBES Coordination) Gary Lynne; Univ of Nebraska Venezuela: Klaus Jaffe ; Universidad Simón Bolívar
Country Representative Reports If you are a SABE Country Representative, you can provide a brief description of the research happening in your country, like the following:
Brazil: SABE Country Representatives: Flavia Possas and Bruno Vio Although it is still work in progress, we should like to share the address of our Behavioral Economics Blog, which has a specific session for SABE, where Portuguese speakers can find basic information about the Society. The address is: www.economiacomportamental.com
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Germany: SABE country representative: Christian Cordes The naturalistic approach suggested within the scope of my research projects aims at providing new facets of an economic theory of behavior. This perspective highlights evolved cognitive dispositions, affective facets of human behavior, cognitive and non cognitive learning capabilities as well as their constraints and is necessarily an interdisciplinary endeavor. In particular, my collaborators and I provide a behaviorally enriched theory of the firm. It draws on insights from other disciplines, such as psychology, anthropology, and sociology among others. We argue that one reason why firms exist is because they are suitable organizations within which cooperative corporate cultures based on human social predispositions can evolve. Formal models are used to depict how the biased transmission of cultural contents via social learning processes within the firm influence employees’ behavior and the performance of the firm. Furthermore, we relate these findings to empirical evidence on firm survival in different industries, the evolution of organizational structures, technological advancements in production technologies, and identify some determinants of market structures. Israel: SABE Country Representative: Ofer Azar Most of my organizational work related to SABE and to behavioral economics more generally is global and not limited to Israel – being on SABE Board, serving as IAREP Honorary Secretary, Webmaster and Newsletter Editor, and chairing the Executive Committee of ICABEEP (International Confederation for the Advancement of Behavioral Economics and Economic Psychology), the newly established confederation of SABE and IAREP. In this latter framework we funded this year a IAREP/SABE/ICABEEP workshop in Bolton, UK, and we also sponsor in the summer a summer school on behavioral economics and economic psychology in Moscow. The more local activities include encouraging graduate students to do research in behavioral economics and advising them, and establishing together with Michal Bar Eli, Ronnie Lidor and a few other colleagues the Israeli Forum for Research in Economics, Psychology and Sport. The purpose of this forum is to encourage and facilitate research collaboration on topics that are in the intersection of economics, psychology and sport. We believe that this is an area with many promising research directions. One example for the important lessons that behavior in sports can teach us more generally about decision making and behavioral economics is provided in the article Bar Eli, Michael, Ofer H. Azar, Ilana Ritov, Yael Keidar Levin, and Galit Schein (2007), "Action Bias among Elite Soccer Goalkeepers: The Case of Penalty Kicks," Journal of Economic Psychology , 28(5), 606 621. The New York Times chose this article as one of the important ideas of 2008 and included it in the special ‘Year in Ideas 2008’ issue. Additional evidence for the importance of the intersection between sports and economics is illustrated by the fact that top economics journals published several articles related to sports in recent years, including Walker and Wooders (AER 2001), Chiappori, Levitt and Groseclose (AER 2002), Palacio Huerta (REStud 2003), and Apesteguia and Palacio Huerta (AER forthcoming). There are of course also older articles in this area, such as the seminal article of Gilovich, Vallone and Tversky (Cognitive Psychology 1985) on the hot hand in basketball.
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Russia: SABE Country Representative: Alexis Belianin
The IAREP/SABE/ICABEEP Summer School 2010 to be held in late August at Higher School of Economics, Moscow, Russia has received 43 applications from all continents. This School and research in experimental and behavioural economics in general have been promoted through a series of lectures and conference presentations in Moscow, Ekaterinburg in the Urals region and Irkutsk in Eastern Siberia. US (Southern) Country: Representative Shabnam Modarres The new advance in the southern region of the USA is that SABE has been formally approved as a partner organization at the southern economics association. This means that we are able from now on to hold at SEA, sessions that are formally titled under SABE. This is the email from SEA: ‘we are pleased to announce that at the SEA Executive Board meeting held on April 23, 2010, the SEA Board approved SABE's application to participate in the Association's annual meetings as a cooperating Organization’. Venezuela: SABE Country Representative: Klaus Jaffe
On April 29, SABE Venezuela sponsored an interdisciplinary seminar on behavioral factors affecting economic development during the last 200 years in Venezuelan history. This seminar, co sponsored by the American Center for Strategic Studies, the Universidad Simón Bolívar and the Government of the State of Miranda, thus, celebrated the 200 years of the first political events that lead to the independence of Venezuela, providing an alternative view of Venezuelan history to that decreed by Colonel Chaves, leader of our military regime. New Masters Degree in Economics and Psychology. Louis Lévy Garboua has announced a new masters degree in ‘Economics and Psychology’ by Pantheon Sorbonne University where he teaches and Paris Descartes University. It will commence in September 2010. This Masters degree is unique in being truly bidisciplinary and international. Moreover, a general overview of psychology will be given which is not limited to economic psychology. It is in the spirit of SABE, IAREP and ICABEEP's objectives and it is hoped will be attractive to students motivated by behavioral economics and psychology. Further information is available from the universities’ websites: Pantheon Sorbonne University: http://www.univ paris1.fr Paris Descartes University: http://www.psycho.univ paris5.fr Louis’ email address is: Louis.Levy Garboua@univ paris1.fr
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Charlotte Phelps’ New Research Project This spring Charlotte Phelps initiated a new research project in collaboration with Donald Hantula, Director of the Decision Making Lab at Temple University and a professor in the Psychology Department. It entails studying preferences for a marriage partner and the relationship between those preferences and other economic decisions. They are going to replicate an experiment Charlotte published in The Journal of Behavioral Economics in 1988 with students enrolled at Temple this semester see Phelps, C.D. (1988) ‘Explaining Choice of Hypothetical Marriage Partner by a Motive Measure of Preferences’, The Journal of Behavioral Economics , Vol. 17, No. 1, pp. 35 57. Microeconomics: A Journey Through Life’s Decisions by John Cullis and Philip Jones Prentice Hall, Financial Times, 2009, xix + 713 pages. ISBN 978 0 273 71893 2 Behavioral economics has certainly made an impact on the UK political scene. For example, Thaler and Sunstein’s 2008 book Nudge became ‘required reading’ on a summer reading list for Members of Parliament of the Conservative Party which now forms the major part of the new UK coalition government. On the UK academic scene, however, the impact has been disappointingly slow. It is therefore encouraging to see that this new microeconomics text, intended for those who have completed a university foundation course in microeconomic theory, includes aspects of behavioral economics. Of particular interest in this regard is Part V ‘The Voluntary Economy’, which includes two chapters. The first is concerned with an analysis of the voluntary sector indicating how neoclassical microeconomic theory can incorporate altruism and the second chapter turns to the role of self interest in altruism. Simon James
The Journal of Socio-Economics The mission of the Journal of Socio Economics is to promote interdisciplinary dialogue about economic processes, institutions and policies. The core disciplines of interest to the journal are those belonging to the social sciences. But other sciences and the humanities are relevant and welcome. Biology, history and philosophy are of particular interest. The journal is interested in pure theory, empirical studies, policy analyses and literature reviews. The JSE is a widely distributed, peer reviewed journal with a long historical association with SABE. For further information see: http://www.elsevier.com/wps/find/journaldescription.cws_home/620175/description#description
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SABE Officers and Board Officers: Mark Pingle, President Louis Lévy Garboua, President elect John Tomer, Executive Director Bijou Yang Lester, Treasurer Gary Lynne, Secretary Simon James, Editor of the Newsletter Members at large: Morris Altman Gerrit Antonides Ofer Azar Nathan Berg Christian Cordes Catherine Eckel Roger Frantz Flora Gill Art Goldsmith Shoshana Grossbard Ewa Gucwa Lesney Cornelia Ohl Charlotte Phelps Jean Robert Tyran
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PRELIMINARY PROGRAM FOR SABE CONFERENCE PLENARY SESSIONS Plenary Session I. Herb Gintis. Tue. Aug 3, 9 – 10:15. Plenary Session II. Daniel Houser. Wed. Aug 4, 3:30 4:45 Plenary Session III. Deirdre McCloskey, Thur. Aug 5, 10:45 – Noon. (A Sessions are Aug 3, 10:30 noon) A1. Economics of the Household: Fertility & childcare 1. Do Babysitters Have More Kids? Early Experiences on Later Life Choices. Joyce Jacobsen 2. On Governance and the Demographic Transition. Flaubert Mbiekop; Drew University 3. The Revolution in Household Behavior 1880 1940. Matthias Cinyabuguma, UMBC; Bill Lord, UMBC, and; Christelle Viauroux; UMBC. 4. Immigration and Its Impact on Mothers’ Child Care Time and Quality. Catalina Amuedo Dorantes, San Diego State University, and; Almudena Sevilla Sanz; University of Oxford. A2. Frederick Hayek’s Theory of Mind and Human Cognition . 1. Cognitive Closure and Social Complexity. Leslie Marsh, New England Institute for Cognitive Science and Evolutionary Studies 2. Hayek, Popper, and the Causal Theory of the Mind. Edward Feser, Pasadena City College. 3. The Foresight of Hayek's “Sensory Order.” Joaquin Fuster, Professor of Psychiatry and Behavioral Sciences, UCLA Semel Institute for Neuroscience & Human Behavior. A3. Co Operation and Conflict Between a Firm, Community, & Role of Govt. 1. An exploration of the Organizational Culture in the Relationships of Co operation and Conflict Between a Firm, Community, New Social Movements and the Role of Government. Jose Vargas Hernandez, Universidad de Guadalajara. 2. A Behavioral Economic Model of Cultural Bias. Shinji Teraji, Yamaguchi University. 3. Culturally based beliefs and labor market institutions. Fabio D’Orlando, Francesco Ferrante and Gabriele Ruiu, University of Cassino, Department of Economic Sciences. 4. Leadership and Peer Effects in an Organization. Penélope Hernandez; University of Valencia, ERI CES; Gonzalo Olcina, University of Valencia, ERI CES, and; Raul Toral, Instituto de Física Interdisciplinar y Sistemas Complejos, CSIC, University of Baleares. 13
A4. Prospect Theory and Its Applications . 1. A Quasi Cumulative Weighting Function for Prospect Theory: The (β,c) Model. Ming Gao, London Business School 2. Mean, Median or Mode? A Striking Conclusion From Lottery Experiments. Krzysztof Kontek, Artal Investments. 3. Rationality on the Rise: Why Relative Risk Aversion Increases with Stake Size. Renate Schubert, ETH, Zurich; Helga Fehr, ETH, Zurich; Adrian Bruhin, ETH, Zurich; Thomas F. Epper, ETH, Zurich. 4. Charitable Giving and Seed Money under Free rider Anonymity. Amrish Patel, University of Gothenburg. A5. Belief formation and Elicitation. 1. Strategic thinking and subjective expectations in a double auction experiment. Claudia Neri, Northwestern University 2. Comparing three elicitation rules: the case of confidence in own performance. Guillaume hllard, CES – University of Paris; Sabastien Massoni, CES – University of Paris; Jean Christophe Vergnaud; CES – University of Paris. 3. A General Equilibrium Model of Decision Makers with Belief Dependent Preferences. Hyeon S. Park, University of Pittsburgh. 4. Good News Bad News Effect. David Eil, UCSD; Justin Rao, Yahoo Research Labs. (B Sessions are Aug 3, 1:30 – 3) B1. Forms of Rationality 1. Forms of 'Bounded Rationality': Reception and Redefinition of Herbert A. Simon’s Perspective. , Stefano Fiori, Dipartimento di Economia, University di Torino. 2. Frederick Hayek's Behavioral Economics. Roger Frantz, San Diego State University. 3. Oligopolistic Competition, Bounded Rationality and the Credit Cycle. Tobias F. Ratheli, Department of Economics, University of Erfurt. 4. Investment Decisions: Fast and Frugal Heuristics at Work. Marco Monti, Max Planck Institute for Human Development. Berlin; Laura Martignon, University of Education,Ludwigsburg; Gerd Gigerenzer, Max Planck Institute for Human Development, Berlin, and Nathan Berg, School of Economic, Political, and Policy Sciences (EPPS) University of Texas Dallas. 14
B2. Hyperbolic Discounting, Time Inconsistency, and Applications . 1. Age Adjusted Hyperbolic Discounting. Frank N. Caliendo; Utah State University. 2. Renegotiating With One's Self. Karna Basu, Hunter College, City University of New York. 3. Elicitation task bias in experiments with artificial agents. Roberto Gabriele, Department of Management and Computer Science, University of Trento, Italy; Oksana Tokarchuk, Department of Management and Computer Science, University of Trento, Italy. 4. Present Biased Preference and The Constrained Consumer. Hyeon Park; University of Pittsburgh. B3. Economics of the Household: Marriage I. 1. Assortative Mating, Ethnic Endogamy, and Education Among Individuals with an Immigrant Background in Sweden. Aycan Çelikaksoy, Swedish Institute for Social Research (SOFI), Stockholm University Linnaeus Center for Integration Studies (SULCIS) and Centre for Research in Integration and Marginalization (CIM); Lena Nekby, Department of Economics, Stockholm University, SULCIS and IZA Research Fellow; Saman Rashid, Department of Social Sciences, Mid Sweden University and SULCIS. 2. Does Male Offspring’s Dowry affect Female Offspring’s Dowry? Empirical Evidence from Patna. Amarendra Sharma, Elmira College. 3. Patrilocal Exogamy as a Monitoring Mechanism : How Inheritance and Residence Patterns Co evolve. Brishti Guha, Singapore Management University. 4. On Population Structure and Marriage Dynamics. Eugenio P. Giolito, Universidad Carlos III de Madrid. B4. Perception, Deception, and Their Consequences. 1. Experimental Evidence of Utility Misprediction in Transport Mode Choice. David Comerford, UCD School of Economics and UCD Geary Institute 2. Perception and Policy: Korea’s Experience with US Beef Imports and KORUS FTA. Shi Young Lee, and Chung Ang, University of Korea. 3. Why a Little Bit of Obfuscation Can Go a Long Way: Complicit Denial and Swindle Aversion in Food Products. Pamela Carlisle, CRS Institute, Joshua M Frank, CRS Institute. 4. Deceptive Perception or Perceived Injustice? Inflation Disparities among Different Income Groups . Katarzyna Grinberg, LRG University of Applied Sciences Switzerland; Hans Wolfgang Brachinger, University of Fribourg Switzerland. 15
(C Sessions are Aug 3, 3:15 – 4:45) C1. Economics of the Household: Savings and Time Use. 1. The (Dis)saving Behavior of the Aged in Japan. Charles Yuji Horioka; Osaka University and National Bureau of Economic Research. 2. Asymmetries and Interdependencies in Time Use Between Italian Spouses Anna Laura Mancini, Università di Torino; Silvia Pasqua; Università di Torino 3. Savings and Marriage. Shoshana Grossbard, San Diego State Univ. 4. Capability to earn and save. Barbara Liberda, Warsaw University; Magdalena Szymczak, Warsaw University. C2. Social identity and social adjustment . 1. Ethnic Identity and Discrimination among Children. Jasmina Arifovic, Jane Friesen, Andreas Ludwig, and Steve Wright, Simon Fraser University. 2. Identity and Contract: An Experimental Investigation. Subhasish Dugar, University of Calgary; Quazi Shahriar; San Diego State University. 3. In praise of ambidexterity: how a continuum of handedness predicts social adjustment. Kevin J. Denny, University College, Dublin; Wen Zhang; University of Cardiff. C3. Money and Society . 1. Microentrepreneur and External Financing Preference: An Evaluation of Perception of the Voluntarily Constrained. Eric Osei Assibey, Graduate School of International Development, Nagoya University, Japan 2. Tax Compliance and Tax Culture: The Impact of Different Dimensions. John Cullis, University of Bath; Philip Jones, University of Bath; Alan Lewis, University of Bath; Antonio Savoia, University of Exeter. 3. How Build Up Social Order in Agent Worlds: A Socio Cognitive Approach. Giulia Andrighetto, Institute of Cognitive Sciences and Technologies, CNR; Rosaria Conte, Institute of Cognitive Sciences and Technologies, CNR. 4. Credit Card Late Fees Designed to Deter Lateness or Exploit Biases? Joshua Frank, Center for Responsible Lending. 16
C4. Entrepreneurship and Innovation . 1. The Co evolution of Entrepreneurship and the Public Sector Efficiency. Luisa Escriche, Economics Department and ERI CES, University of Valencia; Gonzalo Olcina, Economics Department and ERI CES, University of Valencia; Empar Pons, Economics Department, University of Valencia. 2. An Examination of the Entrepreneurial Effort. Ying Lowrey, U.S. Small Business Administration. 3. From Innovativeness to Social Well Being: A Theoretical Considerations. Martin Binder, Max Planck Institute of Economics, Jena. C5. Beyond Exclusive Self Interest. 1. Empathy Economics and Sustainability. Gary D. Lynne, University of Nebraska. 2. Existential Psychology and Conspicuous Consumption in the Works of Adam Smith. Khondlo Mtshali, Saint Mary's University. 3. Testing for Different Consumer Motivations to Buy Counterfeit Brands. Fangling Zhang; David Ong; Peking University. 4. Why Do External Rewards Crowd Out Intrinsic Motivation While Self Rewards Do Not? Ksenia Panidi, University Libre de Bruxelles. (D Sessions are Aug 4, 9 – 10:30) D1. Economic Applications of Behavioral Economics . 1. Understanding inflation expectations uncertainty in the euro area. Does psychology help? Ernest Gnan, Austria. 2. Economic applications of behavioral economics. Combining the Contributions of Behavioral Economics and other Social Sciences in understanding Taxation and Tax Reform. Simon James, University of Exeter. 3. Economic applications of behavioral economics. Perceived and Expected Inflation: Quantifying the Latter by the Former . Daniel Suter, University of Fribourg, Switzerland; Hans Wolfgang Brachinger, University of Fribourg, Switzerland. 4. Economic applications of behavioral economics. An Economic Approach to the Institution of Tips. Miguel A. Espinosa, Universidad de los Andes; Luis R. Martinez, Universidad de los Andes" 17
D2. Evolutionary Theory and Applications. 1. Behavioural Replicator Equation and Socioeconomic Dynamics. Maryam Dilmaghani, McGill University. 2. A game theoretic approach to the co evolution of demography, adaptive technology, and maladaptive culture. Laurent Lehmann, University of Neuchatel. 3. Paradigm Shitfs as a Social Process. Carlos Rodriguez Sickert. 4. The Maladaptivity of Loss Aversion in Contests. Nicholas Shunda, University of Redlands. D3. Extending knowledge using classic behavioral games. 1. The bystander effect in a multi player dictator game. Karthik Panchanathan, Dept Anthropology, UCLA. 2. Experimental Study of Behavior in a Sequential versus Simultaneous Trust Game. Maroš Servátka; Department of Economics, University of Canterbury, New Zealand; Steven Tucker; Department of Economics, University of Canterbury, New Zealand; Radovan Vadovič; Department of Economics, Instituto Tecnológico Autónomo de México. 3. Sorting with Shame in the Laboratory. David Ong, Peking University HSBC School of Business. 4. Repeated Play and Gender in the Ultimatum Game. Peter McGee, Ohio State University; Stelios Constantinides; Ohio State University. D4. Job Search and Education. 1. The Lack of Demand for High School Education: An empirical study of Nuevo Leon, Mexico. Andrea Bereznak, EGAP; Hector J. Villarreal, EGAP. 2. Job search behaviour and time preferences: Evidence from the Netherlands. Thomas van Huizen, Utrecht University School of Economics (USE). 3. The impact of labour market reforms and economic performance on the matching of short term and long term unemployed in Germany. Sabine Klinger, Institute for Employment Research, Germany; Thomas Rothe, Institute for Employment Research. 4. Finding a Job: Effect of social networks on (non) monetary job characteristics Evidence from low skilled unemployed in Germany. Gerhard Krug, Institute for Employment Research, Nuremberg, Germany; Martina Rebien, Institute for Employment Research, Nuremberg, Germany. 18
D5. Extending modeling boundaries of behavioral economics 1. A unifying spectrum: from selection to random drift in collective behavior. R. Alexander Bentley, Durham University; Paul Ormerod, Volterra Consulting. 2. The Ideal Despotic consequences of Ideal Free, prehistoric settlement of the Northern Channel Islands of California. Bruce Winterhalder, U of California, Davis. 3. Cultural Formation of Preferences. Michael Markus Pichler, Bielefeld University. 4. Movers of the Economy. Martin Vlcek, Ministry of Finance of the Czech Republic. (E Sessions are Aug 4, 10:45 – 12:15) E1. Round Table Discussion: Can the Social Sciences be Unified? Herb Gintis, Adrian Bell, Ivo Vlaev, Laurent Lehmann, Roland Zahn, Giulia Andrighetto, Radovan Vadovic, Karthik, Panchanathan, Bruce Winterhalder, Marie Claire Villeval, Alex Bentley, Carlos Rodriguez Sickert. E2. Economics of the Household: Well Being . 1.An analysis of the effects of a single parent family structure on young adult weight outcomes. Alexander N. Slade, University of Illinois – Urbana; Andrea H. Beller; University of Illinois Urbana 2. Social capital and its impact on subjective well being. Isabella Santini, LA SAPIENZA University of Rome 3. Empirical Comparisons between Estimated Utility and Reported Well Being: An Application to Time Series Data on Japanese Life Satisfaction. Kosei Fukuda, College of Economics, Nihon University E3. Immigration and Housing . 1.Transmission of self employment across immigrant generations: The importance of ethnic background and gender. Lina Andersson, Linnaeus University; Mats Hammarstedt, Linnaeus University. 2. Immigration and Equity Home Bias. Hisham Foad, San Diego State University 3. Measuring the Cash Economy in Europe via an Announcement Effect. John Cullis, University of Bath. 19
E4. The Mind and Behavior. 1. Individual differences in the neuroanatomical basis of moral motivations. Roland Zahn, The University of Manchester, Manchester, UK; Jorge Moll, D'OR Institute for Research and Education, Rio de Janeiro, Brazil 2, Existential Psychology and Conspicuous Consumption in the Works of Adam Smith. Khondlo Mtshali, Saint Mary's University. 3. Toward a physical theory of neuroeconomic computation. Taiki Takahashi, Hokkaido University. (F Sessions are Aug 4, 1:45 – 3:15) F1. Determinants of Behavior . 1. A Security Price Volatile Trading Conditioning Model. Leilei Shi, Complex System Research Group, Department of Modern Physics, University of Science and Technology of China; Yiwen Wang; Department of Finance, Beijing University of Aeronautics and Astronautics; Ding Chen;Harvest Fund Management Co. Ltd.; Liyan Han; Department of Finance, Beijing University of Aeronautics and Astronautics; Yan Piao Chengling Gou;Department of Physics, Beijing University of Aeronautics and Astronautics 2. Learning to be fair. Luciano Andreozzi. Università di Trento. 3. The Determinants of Choking Under Pressure. Daniel F. Stone; Oregon State University; Joseph Price, Brigham Young University; Zheng Cao, Oregon State University. F2. Risk Preferences and Insurance. 1. Risk Preferences and Personality Traits: Steps Towards Explaining Risk Instability Across Institutions. Bing Jiang, Emory University. 2. Risk Sorting and Preference for Team Piece Rates. Vanessa Mertins, University of Trier; Agnes Stribeck; University of Tabingen. 3. The Curious Case of Inflated Last Policy Month Claims in Automobile Insurance Contracts. Chu Shiu Li, Feng Chia University. " 4. Is There Propitious Selection in Insurance Markets? Tsvetanka Karagyozova, Lawrence University; Peter Siegelman, University of Connecticut Law School. 20
F3. Economics of the Household: Marriage II. 1. The perception of the income tax: Evidence from Germany, Denis Beninger, ZEW, Mannheim, Germany 2. Covenant Marriages: Increasing Commitment or Just Costs? Amanda J Felkey, Lake Forest College. 3. Microfinance for Gender Equity and Empowerment of Women: Study with Special Reference to Rural Bangladesh. Muhammad Sayeedul Haque, Hiroshima University, Japan; Masahiro Yamao, Graduate School of Biosphere Science, Hiroshima University, Japan. 4. Feminist and Behavioral Economics: Toward an Integration. Marianna Khachaturyan, University of Nebraska Lincoln; Gary D. Lynne,University of Nebraska Lincoln. F4. Behavioral economics and intertemporal decision making. 1. Context dependent preferences: a case of time preference . Oksana Tokarchuk, Department of Management and Computer Sciences. 2. Is It Really Good to Annuitize? James Feigenbaum, Utah State University. 3. Time Discounting and Intergenerational Altruism. Charles Yuji Horioka, Institute of Social and Economic Research, Keio University; Masao Ogaki, Keio University. F5. Learning and Evolving . 1. Evolutionary Thinking in Microeconomic Models: Prestige Bias and Market Bubbles. Adrian Viliami Bell, Graduate Group in Ecology, University of California Davis. 2. The co evolution of learning rules and behavioral strategies. Carlos Rodriguez Sickert, Univ. Catolica de Chile. 3. Search with Multiple Attributes: Theory and Empirics. University of San Diego. 4. Bayesian Social Learning, Conformity and Stubbornness: Evidence from the AP Top 25. Basit Zafar, Federal Reserve Bank of New York; Daniel Stone; Oregon State University. 21
(G Sessions are Aug 5, 9:00 10:30) G1. Factors Affecting Preferences. 1. How do Russians Go about Risk Estimation. Elmira Erzinkyan, CEMI RAN. 2. The Endowment Effect and the Willingness to Accept Willingness to Pay Gap: Subject Misconceptions or Reference Dependence? Weining Koh, National University of Singapore; Wei Kang Wong, National University of Singapore.. 3. Collective Action, Punishment and the Evolution of Preferences. Vicente Calabuig, University of Valencia, ERI CES; Gonzalo Olcina, University of Valencia, ERI CES. 4. Preference Reversals under Ambiguity. Hela Maafi, Paris School of Economics, and University of Paris Sorbonne. G2. Values and Economic Behavior . 1. Multiple Dimensions of Satisfaction. Mark Pingle, University of Nevada, Reno. 2. Public good games and the Balinese. Robert F. Veszteg, Departamento de Economia, Universidad Carlos III de Madrid; Erita Narhetali, Faculty of Psychology, Universitas Indonesia. 3. Relation between Values and Models of Socio Economic Behavior. Veronica Vyushina, State University – Moscow. 4. Relativity of Value in Choice Behaviour. Ivo Vlaev, Imperial College, London. G3. Corruption, Crime, and Warfare. 1. A Behavioral Model of Grand Corruption. Hans J. Czap, University of Michigan at Dearborn; Kanybek D. Nur tegin, Florida Atlantic University. 2. Behavioral Economics Approach to (Fighting) Corruption. Natalia V Czap, University of Michigan Dearborn. 3. Human Nature In Terrorism and Organized Crime: A Behavioral Perspective. Dipak K. Gupta, San Diego State University. 4. The Attack and Defense of Weakest Link Networks. Dan Kovenock, University of Iowa; Brian Roberson, Miami University, Roman M. Sheremeta, Chapman University. 22
G4. Economics of the Household: health economics . 1. The demand for “good health”: Going beyond the human capital model. Jaikishan Desai, Victoria University of Wellington, New Zealand. 2. Health insurance and use of alternative medicine in Mexico; Edwin van Gameren, El Colegio de Mexico. 3. Behavioral Changes in Health Care: The Case of Electronic Health Records, Lucas B. Felkey, Rush University Medical Center; Amanda J. Felkey, Lake Forest College. G5. Labor Economics. 1. Inter and intra household earnings differentials among homosexual and heterosexual couples. Ali Ahmed, Linnaeus University; Lina Andersson, Linnaeus University; Mats Hammarstedt, Linnaeus University. 2. Are Beautiful People More Employable? Evidence from a Field Experiment. Ze'ev Shtudiner, Ben Gurion University; Bradley Ruffle, Ben Gurion University. 3. Labor supply and revenues in Network Marketing: Is it a counter cyclical industry? Stacie Bosley, Hamline University. 4. Field Experiment on Incentive of Writing and Behavioral Evaluation in Peer Review System. Takuya Nakaizumi, UC San Diego International Relations and Pacific Studies.
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